Publications

• January 29, 2025

  Monetary Policy Report—January 2025

  

  Economic growth has ticked up in Canada, boosted by past cuts in interest rates. In the absence of new tariffs, growth is forecast to strengthen, and inflation remains close to 2%. But the threat of new tariffs is causing major uncertainty.

  Content Type(s): Publications, Monetary Policy Report
• January 20, 2025

  Business Outlook Survey—Fourth Quarter of 2024

  Results from the Business Outlook Survey and the Business Leaders’ Pulse show that overall business conditions remain subdued, but firms are beginning to anticipate improvements in activity. Sales outlooks continue to show signs of improvement after a period of weakness. Yet many businesses still have spare capacity, which is reducing their need to expand. Firms expect cost growth, including wages, to soften further. Expectations for inflation moved slightly higher but remain within the Bank of Canada’s target range.

  Content Type(s): Publications, Business Outlook Survey
• January 20, 2025

  Canadian Survey of Consumer Expectations—Fourth Quarter of 2024

  Results from the CSCE show that consumer sentiment improved this quarter, mainly due to recent interest rate cuts and the expectation of further cuts ahead. Consumers reported stronger spending plans. Still, they reported that high prices of many goods and services, economic uncertainty and elevated housing costs continue to weigh on spending decisions. Consumer confidence in the labour market has weakened and is now slightly below the survey average. Consumers’ inflation expectations have largely returned to historical norms.

  Content Type(s): Publications, Canadian Survey of Consumer Expectations